AHMEDABAD: A 25-year-old medical representative from Ahmedabad fell victim to an elaborate online trading scam that operated through Instagram and Telegram, losing ₹44 lakh across nearly 300 transactions. The case has prompted fresh warnings from cybercrime authorities about the growing menace of social-media-based investment frauds.
A Promise of Quick Returns Turns Costly
What began as a casual scroll through Instagram in January ended in financial devastation eight months later. The victim, a resident of Gota in Ahmedabad, came across an advertisement promoting what appeared to be a foreign trading platform. The ad linked to a sleek website that promised lucrative returns on small investments in cryptocurrency and forex markets.
After registering on the platform, the victim was contacted by a woman identifying herself as “Janvi Sharma,” who claimed to be from the company’s marketing department. Through polished conversations and consistent digital engagement, she convinced him that early investments would yield high profits — a common persuasion tactic in modern social-media scams.
Telegram Groups and the Illusion of Legitimacy
Within days, the victim was added to a Telegram group named Deep Win Trader, where he received daily “trading tips” and screenshots of purported profits. Encouraged by these fabricated gains, he began transferring money through multiple Unified Payments Interface (UPI) IDs and online payment channels linked to the fake platform.
Between January and August, investigators said, he made as many as 296 transactions from his personal and family bank accounts — totaling ₹44 lakh. The payments, routed through multiple digital wallets and accounts, created a sophisticated web of transfers designed to obscure the money trail.
Digital Footprints and a Familiar Modus Operandi
According to the Ahmedabad cybercrime police, the fraudulent scheme was orchestrated between January and August through a combination of Instagram advertisements, fake trading dashboards, and coordinated Telegram communities. Officers said the scammers impersonated executives of legitimate financial firms and leveraged social media to lend authenticity to their claims.
“Victims are lured with the promise of fast profits, shown fake gains through manipulated dashboards, and persuaded to reinvest until their funds are exhausted,” an investigator familiar with the case said.
Police have begun tracing the digital footprints and beneficiary accounts involved, focusing on a cluster of UPI IDs believed to be linked to mule accounts across multiple states.
Authorities Urge Caution as Cases Mount
The incident mirrors a surge in online investment frauds reported across Indian cities this year. Officers have cautioned citizens not to invest through unverified apps or links shared on social media platforms, emphasizing that no legitimate trading company conducts business via Instagram or Telegram groups.
“People are increasingly falling prey to schemes that look professional but operate entirely outside regulatory oversight,” a cyber official said. “If an offer sounds too good to be true, it probably is.”
